@Set, this forum, this confirmation that I am not alone, gives me great comfort.
I am a 72 year old man, no longer working, and with a wife who has some serious health issues. I once had 500,000 shares in Flinders. As the price continued to fall from 30 cents to rock bottom, I continued to buy, averaging down my price, in the hope of one day deriving a moderate retirement income from dividends. I was duped into selling my shares back to the company when the price was (from memory) 0.008 because I believed what I read from the directors. So I got back $4,000 for an investment built up over a period of time at a cost of more than $50,000.
Less than 12 months after selling at 0.008 - AT THE RECOMMENDATION OF THE COMPANY DIRECTORS - the price had risen by a factor of 10 to 0.08. My 500,000 shares would then have been worth $40,000. If I had waited and sold them then, my loss would have been only about $10,000 - but they were already gone! The company paid me $4,000 for shares which then rose to $40,000 in value - IN LESS THAN 12 MONTHS! I believe I was lied to. I surrendered my interest in the company because I TRUSTED what I was told by whoever was controlling the company at that time; because I BELIEVED they were acting in my interest.
Earlier this year the price rose briefly to 11.5 cents. At that price I could have recovered the significant portion of my life savings that I had invested, and even made a small profit - but, along with the money, the shares were gone.
I retained only a very small parcel - which since the announcement of the de-listing is now a "non-marketable parcel". Do I trust them a second time? Or, having already lost almost everything, do I go for the ride and remain a thorn in their side, just to see what happens, because I have so little left to lose?
Comment, anyone?
Actually, since reading the posts of so many other shareholders and ex-shareholders, in so many threads, having felt their anger, having been amazed by such unanimity of opinion, I've decided to hold into my remaining 300 shares and go for the ride with the rest of you. I hope they prove to be a thorn in some (here insert any unprintable descriptor you choose) 's side.
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Last
80.0¢ |
Change
0.060(8.11%) |
Mkt cap ! $159.8M |
Open | High | Low | Value | Volume |
80.0¢ | 80.0¢ | 79.5¢ | $501 | 627 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 305 | 74.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
80.0¢ | 16539 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 305 | 0.740 |
1 | 2075 | 0.730 |
1 | 15151 | 0.660 |
1 | 10000 | 0.650 |
2 | 65000 | 0.530 |
Price($) | Vol. | No. |
---|---|---|
0.800 | 16539 | 4 |
0.820 | 2173 | 2 |
0.830 | 2941 | 1 |
0.890 | 2368 | 1 |
0.910 | 20000 | 1 |
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